Myanmar-focused private equity fund manager Anthem Asia has reached a first close for Myanmar SME Venture Fund with US$34.5 million in capital commitments. Investors in the fund include development finance institutions International Finance Corporation, the Dutch Good Growth Fund and CDC Group. The fund, which is targeting US$50 million in total commitments, will invest up to US$3 million in Myanmar-based SMEs, focusing primarily on asset-light businesses that serve domestic demand in sectors such as agribusiness, business and financial services, education, food and beverage, health care and logistics.